Mutual funds in India collectively own a stake worth ₹1,298 crore (about 8.4% of market cap) in Mindtree Ltd, a mid-sized IT services company. UTI AMC has the largest exposure to Mindtree followed by L&T Mutual Fund and Franklin Templeton AMC. On a scheme level, mutual funds on an average have just a 1.25% exposure to Mindtree but the exposure is higher in select funds.
On 18 March 2019, L&T announced that it had entered into an agreement to purchase a 20.32% stake in Mindtree for ₹3,269 crore from V.G. Siddartha, an entrepreneur.
